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Featured
in this Asia Pacific Hospitality Newsletter - Week Ending 1
August 2008 |
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| Taj
International Hong Kong Limited, a wholly owned subsidiary of
Indian Hotels Company Limited (IHCL), has signed a management
agreement with Cuiting Hotspring Hotel Management Company Limited,
a subsidiary of Zhong Qi International Investment Company Limited,
to manage two hotels in China. One of the hotels is a 46-key
deluxe luxury hotel located in close proximity to the heritage
site, The Temple of Heaven Park, in Beijing, which is expected
to expand to 106 rooms in the future. The other hotel is a 500-key
resort with 40 villas built over 60 acres of land located in
Xiangshui Bay, Hainan Island. This agreement is part of IHCL’s
selective global expansion plans. |
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South Korean Province Plans To Build Tourism Destination In
Demilitarised Zone |
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to Headlines |
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| South
Korea’s eastern province of Gangwon has announced plans
to build a tourism destination known as ‘peace city’
in the four-kilometre wide Demilitarised Zone (DMZ) which separates
North and South Korea. The purpose of the project is to attract
international visitors to the area, promote peace and prepare
for eventual reunification of the two nations. Details of the
tourism destination such as the cost of the development and
estimated completion date are currently unknown, while further
discussions are expected between the North and South Korean
authorities. The province of Gangwon was part of a larger singular
province before the Korean Peninsula was divided in 1945. |
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| According
to the Lhasa city government, tourist arrivals to Tibet, China
have recovered to 75,000 and 100,000 in May and June 2008, respectively,
after arrivals recorded zero in April 2008 due to the riots
in March 2008. Since then, only a handful of foreign tourists
are allowed into Tibet, while most mainland Chinese visitors
stayed away. In contrast, one million tourists visited Tibet
in the first half of 2007, including 73,000 international visitors.
Currently, the Tibet Autonomous Region remains open to mainland
Chinese and foreigners with permits, however, several other
ethnically Tibetan areas remain out of bounds to visitors. |
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| The
first Formula One (F1) night race in Singapore, to be held from
26 to 28 September 2008, has boosted the performance of five-star
hotels in Johor, Malaysia. According to market reports, five-star
hotels such as Hyatt Regency Johor Bahru and Puteri Pan Pacific
have received approximately 60% confirmed bookings for their
rooms thus far. With room rates starting from US$153 per night,
these Johor five-star hotels are substantially cheaper than
the reported US$700 and US$1,458 charged by non-trackside Royal
Plaza on Scotts and trackside Fullerton Hotel, respectively.
Currently, Royal Plaza on Scotts has received approximately
55% of confirmed bookings for its 511 rooms during the F1 period. |
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| JAL
Hotels Co Ltd (JAL Hotels) has announced the development of
a 411-room five-star Hotel Nikko in Guangzhou, China. Scheduled
to open in March 2010, the 13-storey hotel is likely to feature
a Japanese restaurant, a Chinese restaurant, meeting facilities,
a business centre and a fitness club. Expected to be the eighth
Hotel Nikko in China, the 56,000-square-metre Hotel Nikko Guangzhou
is located in Guangzhou Tianhe Software Park, one of China’s
biggest and most important software manufacturing bases. The
hotel is also expected to target a mix of leisure and commercial
guests. |
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| Orix
Corporation (Orix), a financial services and investment company
based in Tokyo, has announced that it is investing US$17.2 million
for a 10% equity stake in Tune Hotels.com Limited (Tune Hotels).
Tune Hotels is likely to utilise the investments to facilitate
its development across Southeast Asia. Currently, Tune Hotels
has two properties in operation and another 28 sites under development
in Malaysia, Thailand, Indonesia and the Philippines. It is
targeting to expand the number of developments to over 50 by
end of 2008 and 100 by 2009. |
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Absolute Share Price Performance, as at
1 August 2008
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Closing Share Price as at |
August
1 2008 |
July
25 2008 |
%
Change |
| Australia
Stock Exchange (ASX) |
| Amalgamated
Holdings |
4.17 |
4.19 |
– |
| General
Property Group |
1.57 |
1.74 |
-10% |
| Mirvac
Group |
2.53 |
2.45 |
3% |
| Ocean
Capital Limited |
0.40 |
0.40 |
– |
| Thakral
Holdings Group |
0.80 |
0.77 |
4% |
| Living
and Leisure Australia Group |
0.04 |
0.04 |
– |
| Bangkok
Stock Exchange (THB) |
| Central
Plaza Hotel Public Co Ltd |
5.20 |
5.35 |
-3% |
| Dusit
Thani Public Co Ltd |
36.75 |
38.50 |
-5% |
| The
Erawan Group Public Limited |
3.44 |
3.74 |
-8% |
| Grande
Asset Development |
3.50 |
3.82 |
-8% |
| Laguna
Resorts & Hotel Public Co Ltd |
43.00 |
44.00 |
-2% |
| Minor
International PCL |
12.80 |
13.70 |
-7% |
| Hong
Kong Stock Exchange (HK$) |
| Miramar
Hotel International Ltd |
10.20 |
10.46 |
-2% |
| Regal
Hotels International Holdings Ltd |
0.36 |
0.38 |
-5% |
| Sino
Hotels Holdings Ltd |
3.55 |
3.55 |
– |
| The
Hong Kong & Shanghai Hotels Ltd |
11.94 |
12.28 |
-3% |
| Singapore
Stock Exchange (S$) |
| Amara
Holdings Ltd |
0.49 |
0.49 |
– |
| CDL |
10.98 |
11.50 |
-5% |
| Hotel
Grand Central Ltd |
0.89 |
0.92 |
-3% |
| Hotel
Plaza Ltd |
1.60 |
1.65 |
-3% |
| Hotel
Properties Ltd |
2.23 |
2.29 |
-3% |
| Mandarin
Oriental International Ltd (US$) |
1.76 |
1.76 |
– |
| Stamford
Land |
0.57 |
0.58 |
-2% |
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Return to Headlines |
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| Disclaimer:
Information provided above has been gathered from various market sources.
HVS has not independently verified the accuracy of the
information provided. Interested parties should not rely on the information
as statement of facts and are advised to make their own independent
checks to verify the information provided. For further information,
please feel free to contact HVS
Singapore. |
